Running a new business can be exciting, but also stress-inducing. After all, the company will have many facets of which to take account, and distractions – in the form of email and smartphone notifications, to cite two examples – can abound.
Being a business owner can sap your time and money – but, by following the tips below, you can help yourself to avoid frittering away vital resources.
Choose a sector you can join free of charge
There might be various ideas at your disposal for starting a business – but, on that list, you could have to cross off some options that would require heavy financial expenditure you just can’t afford.
Fortunately, Bplans highlights many types of businesses that can be started for free or otherwise inexpensively. Freelance writing is possible from your laptop – and, if you want to start a blog, that could be monetized.
Switch off sources of tech notifications
If you never seem to succeed in ticking every entry off your to-do list during a given working day, one culprit for this could be an iPhone to which you are attentive whenever that familiar “new email” or “new Skype message” sound can be heard from it.
There are no shortcuts: just switch off all of those notifications to prevent distractions aplenty.
Tackle the most challenging tasks first
Get those out of the way before you even check your morning emails, recommends Start Up Donut.
If those tough responsibilities still daunt you, then break them up into comparatively manageable pieces and perhaps spread them throughout the day, allowing you to spend 20 minutes working on them at a time. Don’t forget to use a timer, too, to make sure you’re not losing your focus here.
Keep on top of your emails
If you realise that you need to track down a particular email that you originally received weeks ago, your heart could sink at the prospect of having to sort through all of those old emails.
However, you could prevent such headache by creating folders allowing you to group relevant emails by category. Those folders could include one for personal emails and another for archiving all emails older than, say, two months.
Don’t let your productivity fall down a black hole
Whether that “black hole” is social media or something else similarly time-draining, you should try to dramatically reduce how much time you spend on it. Therefore, if you spend two hours daily on social media, lower that time to just two 20-minute daily sessions.
Engage in financial planning monthly and annually
As noted in an Entrepreneur article, the majority of new companies fail before reaching their fifth anniversary – and the most common reason why is that they run out of money. Therefore, keeping track of your financial incomings and outgoings every month, year and five years can be imperative.
This could help you to spot fresh opportunities for saving money. For example, through free, 30-day trials, 020 numbers are available from Planet Numbers, the UK-based telecoms company.